Auto Industry News

The cabinet has finally approved a Production Linked Incentive (PLI) scheme of nearly Rs. 26,000 crore for the auto sector. The scheme is mainly to boost manufacturing of electric and fuel cell vehicles. While OEMs are welcoming the move, industry experts believe this might not be enough.

India's cabinet on Wednesday approved an incentive scheme for the automobile sector aimed at boosting production of electric and hydrogen fuel-powered vehicles and promoting the manufacture of drones.

Tata Motors has officially launched Xpres-T, a re-branded Tigor EV, under its Xpres vertical in India. Prices of the electric car start from Rs. 9.54 lakh, going up to Rs. 10.64 lakh.

Several two-wheeler manufacturers have welcomed the government's announcement to introduce production-linked incentives (PLI) for the auto sector.

The Union Cabinet had cleared a new production linked incentive (PLI) scheme to boost vehicle production in the country. Reports suggest an incentive scheme of nearly Rs. 26,000 crore for the auto sector, for a period of 5 years.

While addressing a recently organised Maharashtra EV Policy 2021 highlights and discussion, Aaditya Thackeray said that Brihanmumbai Electric Supply and Transport (BEST) will have a total of 1800 electric buses by mid-2023.

Thanks to the Maharashtra state electric vehicle (EV) policy, the Ather 450 Plus is now priced at Rs. 1.04 lakh in the state.

The pilot plant is scheduled to start production in mid-2022 and is expected to produce around 130,000 litres of eFuels in 2022.